Account Statement
An account statement is a periodic summary of account activity with a beginning date and an ending date. The most commonly known are checking account statements, usually provided monthly, and brokerage account statements, which are provided monthly or quarterly. Monthly credit card bills are also considered account statements.
Definition: An account statement is a summary of account activities over a specified period, with a start date and an end date. The most common types are checking account statements, typically provided monthly, and brokerage account statements, provided monthly or quarterly. Monthly credit card bills are also considered account statements.
Origin: The concept of account statements dates back to the early days of banking when banks needed to provide customers with records of their account activities. As the financial system evolved, the format and content of account statements became standardized, allowing customers to clearly understand the flow of funds in their accounts.
Categories and Characteristics: Account statements can be categorized into the following types:
- Checking Account Statements: Typically provided monthly, recording deposits, withdrawals, check payments, and other activities.
- Brokerage Account Statements: Provided monthly or quarterly, recording buy and sell transactions, dividends, interest, and other activities in investment accounts.
- Credit Card Statements: Provided monthly, recording credit card purchases, payments, interest, and other activities.
Specific Cases:
- Case 1: Mr. Zhang receives a monthly checking account statement from his bank, which clearly shows every deposit and withdrawal, helping him manage his daily expenses.
- Case 2: Ms. Li receives a quarterly brokerage account statement, which helps her understand her investment account's stock transactions, dividend income, and account balance, aiding her in making investment decisions.
Common Questions:
- Question 1: Why are there unrecognized transactions on my account statement?
Answer: This could be due to accounting errors or unauthorized transactions. It is advisable to contact your bank or financial institution immediately for verification. - Question 2: How can I change the frequency of my account statement delivery?
Answer: You can contact the customer service department of your bank or financial institution to request a change in the statement delivery frequency.
